ORIC Pharmaceuticals (NASDAQ:ORIC) Shares Up 3.2%

ORIC Pharmaceuticals, Inc. (NASDAQ:ORIC) shot up 3.2% during trading on Tuesday . The company traded as high as $7.68 and last traded at $7.68. 4,835 shares were traded during mid-day trading, a decline of 99% from the average session volume of 503,944 shares. The stock had previously closed at $7.44.

Analyst Ratings Changes

A number of research firms have recently commented on ORIC. HC Wainwright increased their target price on ORIC Pharmaceuticals from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush increased their target price on ORIC Pharmaceuticals from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. cut their target price on ORIC Pharmaceuticals from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of ORIC Pharmaceuticals in a research note on Tuesday, May 28th. Finally, Citigroup lowered their price target on ORIC Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

ORIC Pharmaceuticals Price Performance

The business has a fifty day simple moving average of $8.82 and a two-hundred day simple moving average of $10.33.

ORIC Pharmaceuticals (NASDAQ:ORIC) last posted its earnings results on Monday, May 6th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. On average, equities research analysts forecast that ORIC Pharmaceuticals, Inc. will post -1.68 EPS for the current year.

Institutional Trading of ORIC Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ORIC. NEA Management Company LLC purchased a new stake in shares of ORIC Pharmaceuticals during the first quarter worth about $20,625,000. Price T Rowe Associates Inc. MD grew its position in shares of ORIC Pharmaceuticals by 140.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,736 shares of the company’s stock worth $21,543,000 after purchasing an additional 915,175 shares in the last quarter. Vanguard Group Inc. grew its position in shares of ORIC Pharmaceuticals by 27.9% during the first quarter. Vanguard Group Inc. now owns 2,882,055 shares of the company’s stock worth $39,628,000 after purchasing an additional 629,536 shares in the last quarter. Alkeon Capital Management LLC grew its position in shares of ORIC Pharmaceuticals by 16.8% during the third quarter. Alkeon Capital Management LLC now owns 3,479,289 shares of the company’s stock worth $21,050,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Euclidean Capital LLC grew its position in shares of ORIC Pharmaceuticals by 32.4% during the third quarter. Euclidean Capital LLC now owns 989,410 shares of the company’s stock worth $5,986,000 after purchasing an additional 241,860 shares in the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.

About ORIC Pharmaceuticals

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.